It is common practice for consumers to conduct electronic transactions with merchants for goods or services received. Electronic payments are typically made with a token that identifies a source of funding. For example, a credit card containing a magnetic strip is a token. The payment tokens usually contain static information, such as an account number, identifying a source of payment. When a credit card is swiped, the card number is transmitted to a centralized payment-processing system. A physical token such as a credit card cannot be easily modified and, in the event that it is lost or stolen, the consumer must report the lost card and wait for a replacement to be mailed. As a result, systems that allow a consumer to pay for a transaction at the point of sale (POS), using a mobile device to display a token (usually in the form of a barcode or QR code), are becoming widely accepted. In fact, due the ease tl generating and replacing these tokens, mobile tokens for a wide variety of transaction types (payment tokens, ticket tokens, promotional offer tokens, etc.) are being developed. However, just as a consumer may take a few minutes to locate the appropriate credit card in his wallet, he may struggle to locate the appropriate application on his mobile device to display the token. Launching the application, once found, is another step the consumer must typically take before the token is displayed.
Accordingly, there is a need for a mobile transaction system that improves the ease and efficiency of the consumer's experience in completing a payment transaction.